Japan Megabanks Kill Joint Blockchain Money Transfer Project, Turn to Their Own Cryptocurrencies

Three of Japan’s biggest banks have canceled a joint project of a blockchain-based peer-to-peer money transfer service. The three so-called Japanese ‘megabanks’, Mitsubishi UFJ Financial Group, Sumitomo Mitsui Financial Group and Mizuho Financial Group, said the joint venture was a duplication of their individual efforts. They thus saw no need to continue, according to the Nikkei Asian Review. Per the Japanese publication, the joint initiative would have allowed their customers to send and receive funds using email addresses or mobile phone numbers via virtual accounts linked to their bank accounts. Japanese Megabanks Partner With Fujitsu As previously reported by CCN

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News – CCN

Today marks the day, The Bitcoin protocol has been running for 10 years. In just a decade, Bitcoin has become the most secure and robust transaction settlement network in the digital age, allowing for truly borderless and uncensorable value transfer. Happy Birthday, Bitcoin!

Today marks the day, The Bitcoin protocol has been running for 10 years. In just a decade, Bitcoin has become the most secure and robust transaction settlement network in the digital age, allowing for truly borderless and uncensorable value transfer. Happy Birthday, Bitcoin! submitted by /u/Jerry_gerrick
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Bitcoin – The Currency of the Internet

Anyone calling Proof of Keys a “bank run” is confusing banks – who give loans and are fractional reserve by nature – to exchanges and wallets which make money on trade and transfer fees and should always be 100% solvent.

submitted by /u/ride_the_LN
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Bitcoin – The Currency of the Internet

I used Western Union to wire 4000 dollars to my family back in the Middle East. I paid 78 dollars in transfer fees and 116 dollars in currency exchange fees. Let that sink in

I also choose the cash option if I were to go with a debit card the fee was going to be 320 dollars

Do you see the money being made? Does it make sense now why they try to fight a public ledger that anybody can view and use?

Borderless currency without those greedy entities telling us what to do

I’m butthurt

submitted by /u/thekcoinz
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Bitcoin – The Currency of the Internet